{"id":9530,"date":"2015-01-11T12:00:02","date_gmt":"2015-01-11T18:00:02","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=9530"},"modified":"2015-01-11T02:09:32","modified_gmt":"2015-01-11T08:09:32","slug":"clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-january-11th-2015","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2015\/01\/11\/clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-january-11th-2015\/","title":{"rendered":"Clarksville Weekly Market Snapshot from Frazier Allen for the week of January 11th, 2015"},"content":{"rendered":"

\"F&MClarksville, TN<\/strong> – The December Employment Report was strong, but with some conflicting details. Nonfarm payrolls rose by a greater-than-expected 252,000 (median forecast: +240,000), with a net revision to October and November of +50,000.<\/p>\n

It was the strongest year for job growth since 1999 (and the strongest private-sector job growth since 1997). The unemployment rate fell to 5.6% (median forecast: 5.7%), with annual benchmark revisions making little difference \u2013 however, the drop in the unemployment rate was due entirely to a decrease in labor force participation (don’t read too much into that, seasonal adjustment is tricky in December).<\/p>\n

\"Frazier<\/a>

Frazier Allen<\/p><\/div>\n

Average hourly earnings fell 0.2% (median forecast: +0.2%), while November’s gain was revised to +0.2% (from +0.4%) \u2013 up 1.7% y\/y (weak, but lower gasoline prices will help to push real earnings somewhat higher).<\/p>\n

Stock market volatility continued, as investors tried to gauge the U.S. economic outlook and evaluate the risks from the rest of the world. The December Fed policy meeting minutes showed that officials believe they can be patient, but also noted that rates could be raised even if inflation is low (as long as there are strong expectations that it will move up to the Fed’s 2% goal).<\/p>\n

Next week, the focus will be on the European Court of Justice ruling on the legality of European Central Bank bond purchases (the German Constitutional Court expressed serious concerns, but punted the case to the ECJ, which heard the case in October).<\/p>\n

This ruling will be preliminary \u2013 hence, non-binding for the ECB. However, if sovereign bond purchases are deemed illegal, it would make it much more difficult for the ECB to embark on quantitative easing \u2013 that would be bad. So, global financial markets will hinge on the ruling.<\/p>\n

\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\nLast Week<\/strong><\/td>\nYTD return %<\/strong><\/td>\n<\/tr>\n
DJIA<\/td>\n17584.52<\/td>\n17823.07<\/td>\n6.08%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n4650.47<\/td>\n4736.05<\/td>\n11.35%<\/td>\n<\/tr>\n
S&P 500<\/td>\n2025.90<\/td>\n2058.90<\/td>\n9.61%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1697.01<\/td>\n1774.89<\/td>\n-11.41%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n1175.97<\/td>\n1204.70<\/td>\n1.06%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Prime Rate<\/td>\n3.25<\/td>\n3.25<\/td>\n<\/tr>\n
Fed Funds<\/td>\n0.13<\/td>\n0.07<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.74<\/td>\n4.51<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.514<\/td>\n1.642<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.185<\/td>\n1.364<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n119.160<\/td>\n104.440<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.183<\/td>\n1.069<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n14.813<\/td>\n13.104<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n48.65<\/td>\n93.67<\/td>\n<\/tr>\n
Gold<\/td>\n1213.34<\/td>\n1239.21<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.56<\/td>\n0.57<\/td>\n<\/tr>\n
10-year treasury<\/td>\n1.97<\/td>\n2.13<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.02<\/td>\n3.30<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 01\/09\/2015<\/h3>\n

\"Treasury<\/a><\/p>\n

S&P Sector Performance (YTD) \u2013 01\/09\/2015<\/h3>\n

\"S&P<\/a><\/p>\n

 <\/p>\n

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n\n
January 12th <\/strong><\/td>\n\u2014<\/td>\nCFP National Championship (Oregon vs. Ohio State)<\/td>\n<\/tr>\n
January 13th <\/strong><\/td>\n\u2014<\/td>\nSmall Business Optimism Index (December)<\/td>\n<\/tr>\n
January 14th <\/strong><\/td>\n\u2014<\/td>\nECJ Rules on ECB bond purchases
\nRetail Sales (December)
\nFed Beige Book<\/td>\n<\/tr>\n
January 15th <\/strong><\/td>\n\u2014<\/td>\nJobless Claims (week ending January 10th)
\nProducer Price Index (December)
\nEmpire State Manufacturing Index (January)
\nPhiladelphia Fed Index (January)<\/td>\n<\/tr>\n
January 16th <\/strong><\/td>\n\u2014<\/td>\nConsumer Price Index (December)
\nIndustrial Production (December)
\nConsumer Sentiment (mid-January)<\/td>\n<\/tr>\n
January 19th <\/strong><\/td>\n\u2014<\/td>\nMLK, Jr. Holiday (markets closed)<\/td>\n<\/tr>\n
January 22nd <\/strong><\/td>\n\u2014<\/td>\nECB Policy Meeting<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Important Disclosures<\/h3>\n

[320left]Past performance is not a guarantee of future results. There are special risks involved with global investing related to market and currency fluctuations, economic and political instability, and different financial accounting standards. The above material has been obtained from sources considered reliable, but we do not guarantee that it is accurate or complete. There is no assurance that any trends mentioned will continue in the future. While interest on municipal bonds is generally exempt from federal income tax, it may be subject to the federal alternative minimum tax, state or local taxes. In addition, certain municipal bonds (such as Build America Bonds) are issued without a federal tax exemption, which subjects the related interest income to federal income tax. Investing involves risk and investors may incur a profit or a loss.<\/p>\n

US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.<\/p>\n

Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.<\/p>\n

Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.<\/p>\n

\"\"<\/a>Material prepared by Raymond James for use by its financial advisors.<\/p>\n

The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business January 8th, 2015.<\/p>\n

\u00a92014 Raymond James Financial Services, Inc. member FINRA<\/a> \/ SIPC<\/a>.<\/h3>\n","protected":false},"excerpt":{"rendered":"

Clarksville, TN – The December Employment Report was strong, but with some conflicting details. Nonfarm payrolls rose by a greater-than-expected 252,000 (median forecast: +240,000), with a net revision to October and November of +50,000. It was the strongest year for job growth since 1999 (and the strongest private-sector job growth since 1997). The unemployment rate […]<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[3],"tags":[4306,7670,7819,1898,7701,7666,1326,5123,8488,7702,8328,7035,3380,7671,7704,7667,5119,9284,1004,7668,5118,7752,9876,1007],"class_list":["post-9530","post","type-post","status-publish","format-standard","hentry","category-business","tag-bonds","tag-british-pound","tag-clarksville","tag-clarksville-tn","tag-crude-oil","tag-djia","tag-employment-report","tag-euro","tag-fm-investment-services","tag-fed","tag-gdp","tag-gold","tag-japan","tag-japanese-yen","tag-mexican-peso","tag-msci-eafe","tag-nasdaq","tag-oil-prices","tag-raymond-james-investment-services","tag-russell-2000","tag-sp-500","tag-u-s-stock-market","tag-unemploymnet-rate","tag-weekly-market-snapshot"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/9530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=9530"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/9530\/revisions"}],"predecessor-version":[{"id":9531,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/9530\/revisions\/9531"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=9530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=9530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=9530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}